Contracts
failure of a condition
Turkish: kosulun gerceklesmemesi
English Definition
The non-fulfilment of a condition precedent or condition subsequent specified in a contract or financing agreement. When a condition fails, it may excuse a party from performance obligations, trigger termination rights, or prevent the agreement from becoming effective. In project finance, failure of conditions precedent typically prevents drawdown of loan proceeds.
Türkçe Tanım
Bir sozlesme veya finansman anlasmasinda belirtilen on kosulun veya bozucu kosulun yerine getirilmemesidir. Kosul gerceklesmediginde, taraflari ifa yukumlulugunden kurtarabilir, fesih haklari tetikleyebilir veya anlasmanin yururluge girmesini engelleyebilir. Proje finansmaninda on kosullarin gerceklesmemesi genellikle kredi kullandirminin yapilmasina engel teskil eder.